Global Androgenetic Alopecia Treatment Market 2024 - By End-User Analysis, Competitive Landscape And Industry Overview 2033

The Business Research Company recently released a comprehensive report on the Global Androgenetic Alopecia Treatment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The androgenetic alopecia treatment market size has grown strongly in recent years. It will grow from $2.13 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to emphasis on improving patient outcomes and quality of life, increase in the geriatric population, increasing healthcare expenditure.

The androgenetic alopecia treatment market size is expected to see strong growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising incidence of hair loss, prevalence of chronic diseases such as cancer, polycystic ov*ary syndrome (PCOS), and rheumatoid arthritis, demand for effective solutions to address hair loss concerns. Major trends in the forecast period include partnerships, product approvals, investments, research and developments.

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Market Drivers and Trends:

The rising hair loss cases are expected to propel the growth of the androgenetic alopecia treatment market going forward. Hair loss or alopecia refers to the partial or complete loss of hair from the scalp or other body parts. Hair loss cases are related to nutritional deficiencies, hormonal changes, genetics, and increased stress. Androgenetic alopecia treatments work through various mechanisms, including hormonal regulation, follicle stimulation, and surgical restoration, to manage hair loss and promote regrowth. For instance, in March 2022, according to an article by the Hair Society, a US-based full-service professional organization, hair loss affected about 21 million women and 35 million men globally. Moreover, in 2024, according to the National Health Service, a UK-based government agency, approximately 8 million women and 6.5 million men are affected by hair loss in the UK. Additionally, more than 650,000 hair transplants are carried out each year. Therefore, rising hair loss cases drive the androgenetic alopecia treatment market.

Major companies operating in the androgenetic alopecia treatment market are developing innovative drug options for addressing hair loss through mechanisms such as promoting hair follicle regeneration, inhibiting hormones that cause hair loss, and using novel delivery systems like topical treatments and oral medications. For instance, in June 2023, Pfizer Inc, a US-based healthcare company, announced the FDA approval of LITFULO (ritlecitinib), a once-daily oral treatment for individuals 12 years of age and older with severe alopecia areata. LITFULO is a kinase inhibitor that inhibits Janus kinase 3 (JAK3) and the tyrosine kinase expressed in the hepatocellular carcinoma (TEC) family of kinases. The FDA approval was based on the ALLEGRO Phase 2b/3 trial, where 23% of patients treated with LITFULO 50mg achieved 80% or more scalp hair coverage after six months compared to 1.6% with placebo. The solution offers a new option for individuals struggling with substantial hair loss, addressing a previously unmet need to treat alopecia areata.

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Major Key Players of the Market:

Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Eli Lilly and Company, Daiichi-Sankyo Co. Ltd., Sun Pharmaceutical Industries Ltd., Allergan Plc, Aurobindo Pharma Limited, Dr Reddy's Laboratories Ltd., Cipla Limited, Fagron Inc., Vitabiotics Ltd., Cosmo Pharmaceuticals NV, Aclaris Therapeutics Inc., Curallux LLC, PureTech Health, Technoderma Medicines Inc., Theradome Inc., Lexington International, HCell Inc., Follica Inc., Ranbaxy Laboratories Ltd., Apira Science Inc., Freedom Laser Therapy Inc., Histogen Inc.

Androgenetic Alopecia Treatment Market 2024 Key Insights:

• The androgenetic alopecia treatment market size is expected to see strong growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Rising Hair Loss Cases Drive Growth In The Androgenetic Alopecia Treatment Market
• Innovative Developments In Androgenetic Alopecia Treatment With FDA Approvals And New Drug Options Lead The Way
• North America was the largest region in the androgenetic alopecia treatment market in 2023

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